Ohio Racinos Report $114.4 Million In February Revenue

February marks the third month in a row of increased revenues for Ohio racinos, according to figures released by the Ohio Lottery Commission.

In February, Ohio racinos had their best month for revenue since July of last year. February is usually one of the lowest-earning months for the racinos, but last month’s $114.4 million stands out as an anomaly — it was the best showing in the last six months.

Two Ohio racinos earned $1 million more than last month

Ohio Racinos brought in $3.7 million more in February than in January, for an increase of 3.3%. Compared to the same month last year, revenues were $10.8 million higher. That marks a 10.4% year-over-year increase.

Ohio racino total revenues:

Feb. 2023: $114.4 million
Jan. 2023: $110.8 million
Feb. 2022: $103.6 million

Across Ohio’s seven racinos, the average revenue increase was $0.53 million over January. However, MGM Northfield Park increased revenues by $1 million to hit $25.4 million. Eldorado Scioto Downs also increased revenues by $1 million, reaching $20 million in February.

Year-over-year, the average increase was $1.5 million, and again MGM Northfield Park was the outlier. MGM increased revenue by $3 million over last February. Miami Valley Gaming wasn’t far behind, growing its revenue by $2.5 million.

Belterra Park in Cincinnati has remained basically flat over that time, with a YoY increase of only $200,000. Belterra brings in only about half of what the next highest earning racino, Hollywood Dayton, does.

Ohio Racino Revenue:

Ohio racino	Feb. 2023	Jan. 2023	Feb. 2022
MGM Northfield Park	$25.4	$24.4	$22.4
Miami Valley Gaming	$20.0	$19.4	$17.5
Eldorado Scioto Downs	$20.0	$19.0	$18.0
JACK Thistledown Racetrack	$15.5	$14.8	$14.4
Hollywood Mahoning Valley	$13.5	$13.6	$12.5
Hollywood Dayton	$13.0	$12.8	$12.0
Belterra Park	$7.0	$6.7	$6.8
Total	$114.4	$110.8	$103.6

Did new racino sportsbooks boost revenues?

The launch of sports betting in Ohio could play a part in February’s revenue boost. Super Bowl weekend in particular was huge for Ohio sportsbooks.

In January, total sports betting revenue in the state was $208.9 million. But Ohio’s 16 online sportsbooks took in $205.7 million of that, leaving only $3.2 million spread across Ohio’s other betting options like retail sportsbooks, casinos and kiosks.

The numbers don’t suggest a huge revenue boost directly from sports wagering, but newly opened sportsbooks at the racinos likely meant more foot traffic at the locations, which also offer horse racing and slots.

Casino growth mirrors racino revenue increases

Ohio’s four non-racing casinos are governed by the Casino Control Commission, and their numbers are reported separately. The casinos seem to be following the same revenue trend, but the latest revenue numbers reported are from January.

Ohio casinos saw a 2.7% increase over December, and a 13.8% YoY increase.

Barstool and other sportsbook locations open at Ohio racinos

Sportsbooks continue to open retail locations in partnership with Ohio casinos and racinos. The sportsbook companies also operate online Ohio sportsbooks, which can be accessed anywhere in the state.

The current retail sportsbooks located at Ohio casinos and racinos are: